QRG Capital Management Inc. Has $11.93 Million Stake in AstraZeneca PLC (NASDAQ:AZN)

QRG Capital Management Inc. boosted its stake in AstraZeneca PLC (NASDAQ:AZN) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,091 shares of the company’s stock after buying an additional 15,835 shares during the quarter. QRG Capital Management Inc.’s holdings in AstraZeneca were worth $11,930,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in AstraZeneca in the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA acquired a new position in AstraZeneca in the fourth quarter worth $27,000. Able Wealth Management LLC acquired a new position in AstraZeneca in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. boosted its stake in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after purchasing an additional 370 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new position in AstraZeneca in the fourth quarter worth $34,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

AZN has been the topic of several research reports. The Goldman Sachs Group initiated coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Argus upped their price target on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Citigroup raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, BMO Capital Markets upped their price target on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $88.00.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded up $0.47 during trading hours on Tuesday, reaching $78.59. 2,659,199 shares of the stock were exchanged, compared to its average volume of 5,363,479. The firm has a market capitalization of $243.67 billion, a price-to-earnings ratio of 38.29, a P/E/G ratio of 1.43 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $80.86. The stock’s fifty day simple moving average is $78.22 and its 200 day simple moving average is $71.30.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The company had revenue of $12.68 billion for the quarter, compared to analyst estimates of $11.92 billion. Sell-side analysts predict that AstraZeneca PLC will post 4.04 EPS for the current year.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.